IT News Nigeria:
Crowdyvest Holdings, an investment company based in Lagos, announced today it will begin operating under a new name and will be known as ‘EMFATO Holdings’, effective immediately, according to a statement.
It added that EMFATO Holdings will focus on providing the necessary support for its’ portfolio businesses while identifying new businesses that will build tech solutions to power collaborative developments within Nigeria, Africa, and the world. This change of name will not affect the affairs of the company as well as its portfolio companies, the company said..
Recalled, in 2019, Onyeka Akumah along with his co-founders identified various opportunities in different high-impact industries using technology to create solutions for Nigerians with the potential to scale across Africa. This led to the establishment of Crowdyvest Holdings (CVH) to invest in such business opportunities and CVH has since launched or invested in 2 portfolio companies, Crowdyvest – a fintech startup focused on financing impact-driven opportunities, and Plentywaka– a trans-tech startup focused on changing the way people get around in Nigeria’s major cities starting with buses. Both startups joined Farmcrowdy which was the first portfolio company of CVH and formerly led by Kenneth Obiajulu. In June 2020, it was learned that Kenneth Obiajulu reached a mutual agreement to leave Farmcrowdy while it’s founder, Onyeka Akumah, has now returned as Chief Executive Officer to lead Farmcrowdy into the next chapter of its growth.
Each of the portfolio companies under EMFATO Holdings has applied innovative thinking to impact the lives of individuals across the globe. This portfolio of businesses are now focused on Fintech, Transtech and Agtech including:
Crowdyvest is the leading crowdfunding startup in Nigeria using a fintech model to connect over 85,000 active users and 7,000 active sponsors with impact-driven opportunities in partnership with other technology companies. The startup led by its Co-Founder and Managing Director – Tope Omotolani along with 12 team members, recently launched a new website and mobile app with features such as an e-wallet for sponsors, pooled sponsorship as well as a revamp of the project sponsorship experience.
Plentywaka is the first bus-hailing company in Nigeria that reached 100,000 riders in 6 months of launch. The startup is currently led by its Co-Founder & Managing Director – Ena Johnny and a team of 26. The startup recently launched a logistics arm and has over 38,000 active users completing an average of 1,400 rides daily after the COVID lockdown.